Cotton-Growers on Defensive

December 25, 1982 going to earn us the status for supping at the high table (see 'Out of Bounds',
The bond markets are selective and sensitive about the quality of paper and investors in these markets go for familiar names like World Bank, Coca Cola, IBM. Kingdom of Sweden, etc. Besides, the bond markets are just now overcast by anxiety about the third world's debt repayment capacity. Consequently, even with higher coupon rates (by at least 3-4 percentage points) and very attractive underwriting and selling commissions, third world paper is unlikely to be accepted.